Navigating the opportunities and challenges in Africa amidst global uncertainty
On 31 August 2023, Hogan Lovells' Johannesburg office hosted an afternoon of discourse at the Africa in Focus - Southern Africa chapter event. The event explored how developing markets can take advantage of the opportunities created by the political, social and economic uncertainty affecting the developed world.
The event kicked off with Arun Velusami, partner and co-Head of the firm’s Africa practice, welcoming clients and the panel to the event.
The panel of subject matter experts was moderated by Office Managing Partner, Chris Green and consisted of Khululiwe Ntshangase, head of Legal at Multichoice Africa, Hanns Spangenberg, Senior Manager and Senior Economist at Deloitte & Touche, Shibishi Maruatona, General Counsel at Ford Motor Company of Southern Africa and Lead Counsel at Ford Credit South Africa, Willie Hattingh, head of Resources and Mining Advisory at RMB Corporate Finance, and Deepa Vallabh, M&A partner at Hogan Lovells. The panel delved into the importance of strong regulation, clear and concise policy and how Africa can mould itself into an attractive investment destination.
Despite challenges, the African continent still boasts great opportunity. Uniquely characterised by one of the youngest populations on the planet, technology will play an important role in spurring that growth. The panel emphasised the importance of companies being proactive in doing business on the continent and proactively liaising with governments and regulators to get the certainty they seek on their investment.
The panel also emphasized that Africa is not a homogeneous block, and that each country presents its own set of nuances that need to be carefully considered.
In closing, Michael Davison, deputy CEO at Hogan Lovells, reiterated that despite a challenging environment, the discussion ignited optimism in the future and potential of the continent. Hogan Lovells, in partnership with our private and public sector stakeholders, is committed to driving investment and growth for the region.